In tech earnings, SIMO (-2.9%) guided Q1 revenues at the midpoint of the prior range. In news, CSCO (+1.3%) increased its dividend by $0.03 to $0.17. Also, T (+1.3%) approved a new 300 mln share repurchase authorization. Among M&A speculation, Bloomberg discussed how PAY (-1.2%) may be an attractive LBO target. Among notable analyst upgrades this morning in the tech space, RFMD (+0.5%) and EBAY (+3.7%) were upgraded to Buy at Canaccord. Among downgrades, INTC (-1.5%) was downgraded to Mkt Perform at JMP and YHOO (-0.8%) was downgraded to Mkt Perform at JMP. There are no notable names in tech scheduled to report after the close.






